Baruch's Forex System Journal

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Quote from Scientist:

Wow Baruch! You did it again! :eek:

Obviously, my ES play turned out nice, and I had a few intraday trades in between, netting just over 10 pts, with the rest still running - But that's about 40T, in comparison to your 250T that is small change!

Damn, I guess I should have paid more attention to forex!

Quite something what you call "a nice day". Even if you traded minimal contract size (1), you have at least netted US$ 2,393.75 today. To be honest, it took me a while to become "cool" and consistent about daily gains like that. Most traders never reach that level, and I recommend you study very carefully what it is that is working for you right now - particularly psychologically.

To further add to that, I cannot (consistently) pull the kind of profits you're doing right now out of the market. It's exceptional performance. If I did $2.4K per day per contract on my typical contract size, you would soon see me with a larger collection of these:

http://www.cardomain.com/memberpage/488281 :D

Nice work man! Keep us posted!

S
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Hi Scientist,

Nice cars!
Yes, it was a good day. But remember the pips came from trading 3 pairs. It's "only" around 80 pips per pair.
The system works very well in a trending market. But there will be trading range days, and they will give me many losses, I suppose. That will be the real test for the system.
 
Quote from random trader:

I think my first 69 trades were all winners. The first loss came on the 70th trade.
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Hi again,

I just can't understand how your system works without "hard stops" and taking 1000 or 2000 pips losses. Could you explain?
 
Quote from keving1:

Way to go, Baruch!

I just happened across this thread this evening - I commend you on taking your system to the boards and trading it as you have.

Great job and very inspirational to many new traders, I am sure.

Keep up the great work,

keving
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Hi again - and thank you for your email.
I just use a simple MA.
"Keep it simple, stupid!"
 
Quote from Baruch:

Hi again,

I just can't understand how your system works without "hard stops" and taking 1000 or 2000 pips losses. Could you explain?
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I wrote something in my thread. If you like, we can discuss there.
 
Quote from random trader:

I wrote something in my thread. If you like, we can discuss there.
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Hi again,

OK. It seems you are doing all the wrong things - no stops, adding to losers - and making a lot of pips. If it works, it works.
 
Quote from Baruch:

Hi again,

OK. It seems you are doing all the wrong things - no stops, adding to losers - and making a lot of pips. If it works, it works.
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I try to do all the right things. I hope it will continue to make pips. Close stops, no adding to losers ever. I wil also keep it very simple. I think this is the best approach of all.
I will now test a new strategy: Only trading EUR/USD - I drop trading GBP and CHF. I will - of course - get fewer pips, but I can trade bigger in EUR. I don't hope it will be boring only to trade one pair.

P.S. I am right now of course short EUR with a 14 pips gain. b/e is stop.
 
Hey, I'm this too. I am just tired of waiting for the Euro to make its move. Incorporating a MA really helped. Thanks for the info.
 
Quote from LouDogg:

Hey, I'm this too. I am just tired of waiting for the Euro to make its move. Incorporating a MA really helped. Thanks for the info.
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Hi Lou,

I saw that you are making real money now. Congratulations.
 
Quote from Baruch:

I try to do all the right things. I hope it will continue to make pips. Close stops, no adding to losers ever. I wil also keep it very simple. I think this is the best approach of all.
I will now test a new strategy: Only trading EUR/USD - I drop trading GBP and CHF. I will - of course - get fewer pips, but I can trade bigger in EUR. I don't hope it will be boring only to trade one pair.

P.S. I am right now of course short EUR with a 14 pips gain. b/e is stop.
More...

Flat with a gain of 3 pips - because bad rumours are coming out from Russia right now!
 
Quote from Baruch:

Flat with a gain of 3 pips - because bad rumours are coming out from Russia right now!
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Bad decision. The rumour (and bomb threats in London) are hurting EUR. No, it's not easy trading the news...
 
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